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Backup withholding tax

Hello ,I have a LLC (with one member), registered in Delaware and I am a non resident of US (I do not live and work in US) and I will be managing my business outside the US. I've just opened a business bank account and my question is whether I am a subject of backup witholding tax

JRDUNDON | Performer |
5/16/2011 - 11:05 pm

As a single member LLC get yourself an Employer Identification Number from the IRS and report your revenues and expenses on IRS Form 1040 Schedule C. &nbsp;Doing so will subject your profits to Self Employment tax (Schedule SE). &nbsp;IF you do this then you should not necessarily have to withhold employment taxes.

jbeidle | Contributor |
4/27/2011 - 9:56 pm

Plamena,
If you are a non-resident US citizen, you are still subject to US taxes. So, if you have not filed tax returns in the past you will need to do so.
If you are not a US citizen and are not doing business in the US, why would you have a US entity?

Erg Managerial | Window Shopper |
4/4/2011 - 7:59 am

Hello,
I am also in a similar position as Planema. I have incorporated a LLC in Wyoming but would like some advice on opening a bank account in a USA company. I have contacted a few banks but all of them require a US citizen or permanent resident (with a SSN) in order to open the account.
Isn&#39;t it possible for me to open an account for my company even though I am not a US citizen?
Best Regards!

cturner002 | Window Shopper |
4/26/2011 - 9:36 pm

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Hello,I am also in a similar position as Planema. I have incorporated a LLC in Wyoming but would like some advice on opening a bank account in a USA company. I have contacted a few banks but all of them require a US citizen or permanent resident (with a SSN) in order to open the account.Isn&#39;t it possible for me to open an account for my company even though I am not a US citizen?Best Regards!

Yes you can open a bank account but you will need to get your company a Federal EIN number. And unfortunately, more than likely you will be subject to backup withholding.